Answer:
The future value of loan amount after 4 months is $ 34,695.136
Explanation:
Given as :
The loan principal = $ 34300
The rate of interest applied = 3.5 %
The time period = 4 months =
year
Let The amount after 4 months = $ A
From compounded method
Amount = Principal ×

or, Amount = 34300 ×

or, Amount = 34300 ×

or, Amount = 34300 × 1.01152
∴ Amount = $ 34,695.136
Hence The future value of loan amount after 4 months is $ 34,695.136 Answer